Effect Of Digital Finance And Digital Payment On Sme Performance Mediated By Risk Perception
Keywords:
Digital finance, Digital Payment, SME Performance, Risk Perception, Technology Adoption
Abstract
This study aims to analyze how SME performance is influenced by digital finance and digital payment, mediated by risk perception. This study employs a quantitative approach using primary data. Data were collected through interviews using a questionnaire as the research instrument. The population of this study includes SMEs in the creative economy sector that have adopted digital finance and digital payment. The research sample was selected based on research needs, with a total of 130 respondents. Data analysis was conducted using SmartPLS. The results indicate that digital finance has a significant positive effect on SME performance, and risk perception is not proven to mediate the relationship between digital finance and SME performance. Meanwhile, digital payment is found to have no effect on SME performance, whereas risk perception is proven to mediate the relationship between digital payment and SME performance. This research is expected to provide insights for SME actors regarding the use of digital finance and digital payment in business methods. For future researchers, it is recommended to expand the geographical scope of the study and explore other variables that influence digital technology adoption, such as government regulations or cultural factors.
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Teng, X., Wu, Z., & Yang, F. (2022). Research on the relationship between digital transformation and performance of SMEs. Sustainability, 14(10), 6012.
Sinaga, K. A. S., Irene, J., & Christanti, R. (2023). Digital Adoption and Financial Performance: Evidence From Indonesian SMEs in Food and Beverage Sector. Return: Study of Management, Economic and Bussines, 2(4), 423-434.
Jain, N., & Raman, T. V. (2023). The interplay of perceived risk, perceive benefit and generation cohort in digital finance adoption. EuroMed Journal of Business, 18(3), 359-379.
Ghozali, I. (2016). Aplikasi analisis multivariete dengan program IBM SPSS 23.
Yang, Y., Liu, Y., Li, H., & Yu, B. (2015). Understanding perceived risks in mobile payment acceptance. Industrial Management & Data Systems, 115(2), 253-269.
Abdillah, W., & Hartono, J. (2014). Konsep Aplikasi PLS (Partial Least Square) untuk penelitian empiris, Edisi Pert. Yogyakarta: Bpfe.
Tri Yasrawan, K. (2020). Pengaruh Efektivitas Penggunaan Dana KUR dan Intellectual Capital terhadap Kinerja Usaha Mikro Kecil dan Menengah (Studi pada UMKM Pengguna Dana KUR se-Kabupaten Buleleng) (Doctoral dissertation, Universitas Pendidikan Ganesha).
Achadi, A., Surveyandini, M., & Prabawa, A. (2021). Pengaruh Kualitas Website E-Commerce, Kepercayaan, Persepsi Risiko dan Norma Subyektif terhadap Minat
Beli Secara Online di bukalapak. com. Jurnal Ilmiah Universitas Batanghari Jambi, 21(3), 1207-1212.
Suryani, E., Diswandi, D., & Afwani, R. (2024). Techno-finance Literacy and Company Performance: Mediating Role of Risk Management Practices based on Structural Equation Modeling. Journal of International Commerce, Economics and Policy, 2450016.
Deliska, R. R. (2024). Pengaruh Digital Marketing Dan Digital Payment Terhadap Kinerja Penjualan Umkm (Doctoral dissertation, STIE BANK BPD JATENG).
Fachrunnisa, Z. H., Windarti, N. P., & Sari, R. P. (2024). Pengaruh Literasi Keuangan, Digital Payment Dan Kemampuan Menyusun Laporan Keuangan Terhadap Kinerja Umkm. Jurnal Fairness, 14(1), 1-14.
Bakashaba, R., Musiita, B., & Nabachwa, S. (2024). The Mediating Role of Access to Digital Finance on the Relationship between Financial Literacy and Performance of Uganda SMEs in Mbarara City. Journal of Economics and Behavioral Studies, 16(1 (J)), 140-151.
Putri, M. T., Hatta, A. J., & Indraswono, C. (2023). Analisis Persepsi Kemanfaatan, Persepsi Kemudahan, Kepercayaan, Gaya Hidup, Literasi Keuangan, dan Risiko Terhadap Penggunaan Qris Sebagai Alat Pembayaran Digital Pada Mahasiswa di Yogyakarta. Jurnal Ekonomi dan Bisnis, 17(3), 215-228.
Sholeha, A., & Kharisma, A. S. (2024). PENGARUH FINANCIAL TECHNOLOGY (FINTECH) TERHADAP KINERJA UMKM MELALUI MEDIASI AKSES KEUANGAN DI PROVINSI JAWA TENGAH, INDONESIA. Jurnal Bina Bangsa Ekonomika, 17(2), 1571-1586.
Nurchayati, N., Ariyanti, R., & Marianingsih, I. (2024). How Fintech Adoption, Digital Payment Systems, and Consumer Trust Shape Financial Performance of MSMEs. International Journal of Business, Law, and Education, 5(2), 2458-2469.
Putrie, R. A., Arifuddin, A., Ni'amah, M., Putri, S. K., & Iffah, N. (2023). Pengembangan Program Pelatihan Keterampilan Usaha Kecil Dan Menengah (UKM) dalam Meningkatkan Perekonomian Lokal. Community Development Journal: Jurnal Pengabdian Masyarakat, 4(4), 7554-7560.
Purnasalam, DL, & Suryani, E. (2025). Inklusi Keuangan dan Teknologi Keuangan pada UKM: Meneliti Peran Mediasi Persepsi Risiko terhadap Kinerja Bisnis. Jurnal Pengembangan Usaha (JEP) , 7 (1), 14-27.
Wijaya, J. P., & Sri, D. (2023). Pengaruh Persepsi Kebermanfaatan, Persepsi Kemudahan, Dan Persepsi Risiko Terhadap Minat Penggunaan Mobile Banking Pada Umkm Di Kota Palembang. Jurnal Informasi Akuntansi (JIA), 2(1), 1-18.
Rudianto, V., & Budiman, J. (2024). Persepsi Manfaat dan Risiko terhadap Sustainable Development di kota Batam dengan Perilaku Pembayaran Digital sebagai Variabel Mediasi. Ranah Research: Journal of Multidisciplinary Research and Development, 6(5), 1578-1585.
Darma, G. S., & Noviana, I. P. T. (2020). Exploring digital marketing strategies during the new normal era in enhancing the use of digital payment. Jurnal Mantik, 4(3), 2257-2262.
Kautsar, A. (2022). Digital Marketing Dan Digital Finance Apakah Menjadi Faktor Berkembangnya UMKM Di Surabaya?. EKONOMIKA45: Jurnal Ilmiah Manajemen, Ekonomi Bisnis, Kewirausahaan, 10(1), 308-313.
Rahardjo, B., Ikhwan, K., & Siharis, A. K. (2019). Pengaruh financial technology (fintech) terhadap perkembangan UMKM di Kota Magelang. In Prosiding Seminar Nasional Fakultas Ekonomi Untidar 2019.
Riska, R. (2022). Pengaruh Digital Payment terhadap Perilaku Konsumtif Mahasiswa FEBI IAIN Parepare (Analisis Ekonomi Islam) (Doctoral dissertation, IAIN Parepare).
Kuwayama, M. (2001). E-Commerce and export promotion policies for small-and medium-sized enterprises: East Asian and Latin American experiences. ECLAC.
Arner, D. W., Barberis, J., & Buckley, R. P. (2015). The evolution of Fintech: A new post-crisis paradigm. Geo. J. Int'l L., 47, 1271.
OECD. (2020). Digital Finance: Opportunities and Challenges
Deloitte. (2019). Digital Finance: The Future of Financial Services
Laudon, K. C., & Laudon, J. P. (2004). Management information systems: Managing the digital firm. Pearson Educación.
Fachrunnisa, Z. H., Windarti, N. P., & Sari, R. P. (2024). Pengaruh Literasi Keuangan, Digital Payment Dan Kemampuan Menyusun Laporan Keuangan Terhadap Kinerja Umkm. Jurnal Fairness, 14(1), 1-14.
Teng, X., Wu, Z., & Yang, F. (2022). Research on the relationship between digital transformation and performance of SMEs. Sustainability, 14(10), 6012.
Sinaga, K. A. S., Irene, J., & Christanti, R. (2023). Digital Adoption and Financial Performance: Evidence From Indonesian SMEs in Food and Beverage Sector. Return: Study of Management, Economic and Bussines, 2(4), 423-434.
Jain, N., & Raman, T. V. (2023). The interplay of perceived risk, perceive benefit and generation cohort in digital finance adoption. EuroMed Journal of Business, 18(3), 359-379.
Ghozali, I. (2016). Aplikasi analisis multivariete dengan program IBM SPSS 23.
Yang, Y., Liu, Y., Li, H., & Yu, B. (2015). Understanding perceived risks in mobile payment acceptance. Industrial Management & Data Systems, 115(2), 253-269.
Abdillah, W., & Hartono, J. (2014). Konsep Aplikasi PLS (Partial Least Square) untuk penelitian empiris, Edisi Pert. Yogyakarta: Bpfe.
Tri Yasrawan, K. (2020). Pengaruh Efektivitas Penggunaan Dana KUR dan Intellectual Capital terhadap Kinerja Usaha Mikro Kecil dan Menengah (Studi pada UMKM Pengguna Dana KUR se-Kabupaten Buleleng) (Doctoral dissertation, Universitas Pendidikan Ganesha).
Achadi, A., Surveyandini, M., & Prabawa, A. (2021). Pengaruh Kualitas Website E-Commerce, Kepercayaan, Persepsi Risiko dan Norma Subyektif terhadap Minat
Beli Secara Online di bukalapak. com. Jurnal Ilmiah Universitas Batanghari Jambi, 21(3), 1207-1212.
Published
2025-06-09
How to Cite
Zayyani, E. Z., & Suryani, E. (2025). Effect Of Digital Finance And Digital Payment On Sme Performance Mediated By Risk Perception. Jurnal Manajemen Dan Keuangan, 14(1), 84-101. https://doi.org/10.33059/jmk.v14i1.11187
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